Last week, EurUsd broke under 1.05 support and has made a low at 1.0350. Afterward, the pair recovered and has risen above 1.05. Although we have this recovery from the low, looking at the daily posted chart, we can see that the price is under 20d SMA and this is pointing down, indicating still a strong bear trend. I expect USD bulls to remain in control in the future and the pair to continue its drop to parity in the medium term. 1.0650 is resistance now, followed by the strong 1.0750-1.08 one and in these zones, we can look for selling opportunities for a great risk: reward for swing traders.
Best Regards! Mihai Iacob
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